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The partnership seeks to help response and recovery organisations manage the “entire lifecycle” of a catastrophe.
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Insured losses from severe weather events in the US are on course to exceed $20bn, following the second highest October tornado tally on record, according to a report from Aon. -
The broker said that weather-related losses had become more severe in the past decade because of climate change.
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Lockton Re has hired James Boon from Aon to work as a senior broker in the expansive non-marine retrocession and property specialty division.
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The broking group has hired Sussex Capital’s Adam Champion and investment banker Niall Baird for the new venture.
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Howden said passing risks onto governments would degrade the value of the insurance industry.
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The Competition and Markets Authority will investigate whether the deal lessens competition in the UK.
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The company has also confirmed that new recruit Tim Ronda will join as president later this month.
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The former Aon US reinsurance president will join the challenger broker in just two weeks.
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Tim Ronda was president of Aon’s US reinsurance business and was recently given a new global leadership role.
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The Willis solution is designed to help companies access insurance as they transition to a low-carbon business model.
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The broker has explained the rationale for its $3.25bn acquisition of Willis Re on an investor call.
